1132 E Locust St · DeKalb, IL 60115

$180,000

2 bd · 1.0 ba · 1,400 sqft · SingleFamily · 4 Days on market

8,100 sqft lot Est $232k · 23% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• 1% rule +4.5/10.0
• Rent growth +4.3/5.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

Key facts

• Spacious mud room
• Enclosed front porch
• 8,100 sq ft lot

Tags

• ENCLOSED FRONT PORCH
• SPACIOUS MUD ROOM

Property features AI

Finance

• Other: Ownership is fee simple
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 garage spaces); total 2 parking spaces; Concrete and gravel parking surfaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Two-story
• Construction: Vinyl siding exterior; Estimated build age 71–80 years; Rehab completed in 2015; Built before 1978
• Exterior features: Lot dimensions approximately 60 x 135; Lot roughly between 0.25 and 0.49 acre; School bus and commuter bus service available

Interior

• Kitchen: Kitchen on main level (approx. 13 x 15)
• Bedrooms: Master bedroom on second floor (approx. 15 x 18); Second bedroom on second floor (approx. 14 x 15); Additional bedrooms indicated
• Flooring: Carpet in living room
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Seven total rooms; Unfinished full basement with exterior entry and walk-out access
• Laundry & utility: Laundry room / area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $9 ($110/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (5.1% below list).
• Recommended offer: $171k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.3% in DeKalb — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#154 in IL, #2,835 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D+, schools D, crime D-.
• Dekalb CUSD 428 (suburban): math 11% / reading 16% proficiency, ranked #541 of 620 in IL (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.3%/yr); 84 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 260 units permitted in DeKalb County in 2024 (73 in 5+ unit buildings).
• This rent runs 44% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• DeKalb County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $52k; list at $180k implies a 246% gain — meaningful room to come down on a strong offer.

Recommended offer $170,771 (5.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $232,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 E Lincoln Hwy	0.18mi	2/1.0	1,368 (-2%)	6mo	$219,900	$161	82
934 E Garden St	0.38mi	3/1.0 (+1)	1,408 (+1%)	5mo	$170,000	$121	72
218 S 9th St	0.25mi	3/1.5 (+1)	1,350 (-4%)	10mo	$180,000	$133	68
733 N 13th St	0.54mi	3/1.5 (+1)	1,400 (0%)	3mo	$234,500	$168	65
304 Cotton Ave	0.47mi	3/1.0 (+1)	1,428 (+2%)	6mo	$237,000	$166	64
139 Elm St	0.24mi	3/2.0 (+1)	1,232 (-12%)	2mo	$211,000	$171	58
120 Evans Ave	0.11mi	3/2.5 (+1)	1,194 (-15%)	5mo	$255,000	$214	55
329 S 10th St	0.28mi	3/1.0 (+1)	1,200 (-14%)	5mo	$175,000	$146	54
1302 State St	0.34mi	3/1.5 (+1)	1,200 (-14%)	0mo	$160,000	$133	53
324 N 6th St	0.43mi	3/2.0 (+1)	1,500 (+7%)	8mo	$171,000	$114	52
928 N 14th St	0.74mi	3/2.0 (+1)	1,400 (0%)	7mo	$250,000	$179	50
844 S 7th St	0.67mi	2/2.5	1,254 (-10%)	3mo	$282,000	$225	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 7.33% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.59×
• Total profit: $-20,737
• Equity at exit: $26,839

10-year hold

• IRR: 4.0%
• Equity multiple: 1.35×
• Total profit: $17,878
• Equity at exit: $15,563

Cash invested: $50,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60115

• Home prices YoY: -31.9%
• Rents YoY: 7.3%
• Active inventory: 84
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,708 high
• Mortgage (P&I): −$944
• Tax from tax record: −$321 /mo · $3,852/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $9

Break-even live

Break-even rent $1,696

Max offer price $180,000

Occupancy floor 94%

Sensitivity live

Price	-10% $111	-5% $60	+0% $9	+5% $-42	+10% $-93
Rent	-10% $-126	-5% $-58	+0% $9	+5% $77	+10% $144
Rate	-1.0pp $100	-0.5pp $55	base $9	+0.5pp $-38	+1.0pp $-85

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 S 7th St DeKalb, IL	2.0	1.5	1054	$1,700	$1.61	7d	1	0.41mi
511 S 3rd St Unit 1 DeKalb, IL	1.0	1.0	921	$1,200	$1.30	44d	1	0.78mi
172 Oak Dr DeKalb, IL	3.0	1.0	950	$2,000	$2.11	21d	1	0.91mi
1428 Reserve Ln Unit 4 DeKalb, IL	3.0	2.5	1750	$2,300	$1.31	12d	1	1.21mi
1472 Cambria Dr DeKalb, IL	2.0	1.5	1200	$1,750	$1.46	44d	1	1.28mi
1535 Reserve Ln #1535 DeKalb, IL	2.0	2.0	1488	$2,300	$1.55	44d	1	1.36mi
1523 Grand Dr Unit 310-2 DeKalb, IL	2.0	1.5	1554	$2,000	$1.29	4d	1	1.36mi

Listing history 15 events

1. 2026-05-22
   listed $180,000 Active
2. 2019-03-25
   soldstatus $52,000
3. 2017-07-21
   soldstatus $52,000 Closed Sale 130-char remark

   Show marketing remark (130 chars)

   needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

4. 2017-05-12
   status Pending 130-char remark

   Show marketing remark (130 chars)

   needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

5. 2017-05-02
   price $54,000 130-char remark

   Show marketing remark (130 chars)

   needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

6. 2017-05-02
   status Reactivated 130-char remark

   Show marketing remark (130 chars)

   needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

7. 2017-05-01
   historical 130-char remark

   Show marketing remark (130 chars)

   needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

8. 2017-04-11
   price $59,000 130-char remark

   Show marketing remark (130 chars)

   needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

9. 2017-03-09
   price $59,500 130-char remark

   Show marketing remark (130 chars)

   needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

10. 2017-03-08
    status Reactivated 130-char remark

    Show marketing remark (130 chars)

    needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

11. 2017-03-01
    historical 130-char remark

    Show marketing remark (130 chars)

    needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

12. 2016-12-16
    price $60,000 130-char remark

    Show marketing remark (130 chars)

    needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

13. 2016-09-13
    price $64,500 130-char remark

    Show marketing remark (130 chars)

    needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

14. 2016-08-15
    listed $75,000 New 130-char remark

    Show marketing remark (130 chars)

    needs some TLC but solid home with big yard and 2-car garage and fenced yard owner will look at all offers!sold "as is"

15. 1999-06-16
    soldstatus $67,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $3,852 · $321/mo
• Projected year-2 tax: $3,969 · $331/mo
• Expected delta: +$117/yr (+$10/mo · 3.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,493
• − Mortgage interest: −$10,083
• − Property taxes: −$3,852
• − Insurance: −$900
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$5,236
• Taxable loss: −$2,858
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $795/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Dekalb CUSD 428
• NCES district ID: 1712000
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $42,007
• Composite: 11.74/100
• National rank: #9685
• State rank: #541 of 620 in IL

Livability — DeKalb

• Score: 77/100
• State rank: #154
• US rank: #2835

Category grades

Amenities D+ Commute A+ Cost of living A+ Crime D- Employment F Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeKalb, IL
• County: DeKalb County · 64,760 people
• City population: 42,536
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,536
• Household income: $47,043
• Rent vs Own: 57.0% rent · 43.0% own
• Severe rent burden: 3794.0

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 104,983 people
• By 2030: 104,428 · -0.5%
• By 2040: 102,199 · -2.7%
• By 2050: 99,303 · -5.4%
• By 2075: 93,978 · -10.5%
• By 2100: 88,527 · -15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Hispanic / Latino 18% Black 15% Two or more races 12% Asian 4%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 82% English-only · Spanish 10% Arabic 2% Other Indo-European 2%

Political lean MEDSL · DeKalb

• 2024 margin: Toss-up / Even · D 50.1% · R 48.1% · Other 1.7%
• 2008→2024 swing: -14.8pp toward R · 2008: 16.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+5.7 2016: D+3.0 2012: D+5.5 2008: D+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.56%
• Current HPI: 191.1189
• Rent YoY: ▲ 7.33%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+168.7% since first listed

15 events — show timeline

• 2026-05-22 Listed $180,000 MRED as Distributed by MLS Grid
• 2019-03-25 Sold (Public Records) $52,000 Public Records
• 2017-07-21 Sold (MLS) $52,000 MRED as Distributed by MLS Grid
• 2017-05-12 Pending — MRED as Distributed by MLS Grid
• 2017-05-02 Price Changed $54,000 MRED as Distributed by MLS Grid
• 2017-05-02 Relisted — MRED as Distributed by MLS Grid
• 2017-05-01 Listing Removed — MRED as Distributed by MLS Grid
• 2017-04-11 Price Changed $59,000 MRED as Distributed by MLS Grid
• 2017-03-09 Price Changed $59,500 MRED as Distributed by MLS Grid
• 2017-03-08 Relisted — MRED as Distributed by MLS Grid
• 2017-03-01 Listing Removed — MRED as Distributed by MLS Grid
• 2016-12-16 Price Changed $60,000 MRED as Distributed by MLS Grid
• 2016-09-13 Price Changed $64,500 MRED as Distributed by MLS Grid
• 2016-08-15 Listed $75,000 MRED as Distributed by MLS Grid
• 1999-06-16 Sold (Public Records) $67,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $3,852 · +9.9% YoY. Source: county tax records.